A difficult financial situation puts further pressure on brands to go the extra mile stand out in Spain, the current make-up market is in a state of decline.
According to a new report from Canadean, the Spanish make-up market has a forecast negative CAGR of -1.4% in value and -1.8% in volume over 2013-2018.
Cautious spending
“The unfavourable economic climate in Spain means that consumers are more careful with their expenses and marketers have to go the extra mile to appeal to them,” says Veronika Zhupanova, analyst at Canadean.
“Spanish women seek for individual and personalised products like palettes with a number of different colour shades, which allow them to create or modify their look depending on time of day or type of event.”
According to Zhupanova, producers need to tap into the most influential motivation for make-up application in Spain in order to attract consumers; and this is the desire for individualism, which is responsible for 22.8% of make-up consumption.
“Products like these will enable them to create different styles and can be promoted as an opportunity to experiment with their desired look,” she adds.
Personalisation
According to Canadean, personalised make-up will do particularly well in Spain as there is a plethora of unique face and skin characteristics, and consumers with different types of skin tones and conditions, facial proportions, eye shapes and hair colours will look for different colour palettes and textures.
Occasional make-up also presents an opportunity for producers, as consumers wear paler colours during the day at work and saturated, bolder looks for social events in the evening, says the market researcher.
“The desire for customised make-up is the strongest among wealthier women, who are responsible for 55.1% of the make-up consumption by volume,” says Zhupanova.
“To cater to them, manufacturers should enable them to create their own palettes or provide these women with a stylist's advice on trendy make-up looks.”